THE EFFECT OF MANAGERIAL PERFORMANCE ON SHAREHOLDERS’ WEALTH MAXIMIZATION OF CONGLOMERATE FIRMS IN NIGERIA
THE EFFECT OF MANAGERIAL PERFORMANCE ON SHAREHOLDERS’ WEALTH MAXIMIZATION OF CONGLOMERATE FIRMS IN NIGERIA
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Date
2011-06
Authors
YUSUF, Abdulmalik
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Abstract
Firms are mostly owned by thousands of shareholders. The complex nature of
firms serves as an impetus for owners to appoint qualified personnel to
manage their affairs in order to achieve organizational goals. Thus, this study
assesses the effect of Managerial Performance on Shareholders’ Wealth
Maximization of Conglomerate Firms in Nigeria. Data are collected through
secondary sources from the annual reports and accounts of the firms, for the
period of eight years (2001 to 2008). The study adopts ex post factor research
design, Economic Value Added (EVA) Model, Compounded Annual Growth
Rate Model and Multiple Regression technique for data analysis. The study
finds that Managerial Performance measure by EVA Model has significant
effect on Shareholders’ Wealth. It also establishes that Shareholders’ Wealth is
affected by Accounting Performance Measure in Nigeria. The study
recommends shareholders to consider EVA Model as Modern Managerial
Performance Measure for wealth maximization decision. Research work is
encouraged on the wide application and acceptance of Economic Value Added
(EVA) Model, as modern managerial performance measure in Nigeria.
Description
BEING A THESIS SUBMITTED TO THE SCHOOL OF POSTGRADUATE
STUDIES, AHMADU BELLO UNIVERSITY, ZARIA
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE
AWARD OF M.Sc DEGREE IN ACCOUNTING AND FINANCE
JUNE, 2011
Keywords
MANAGERIAL,, PERFORMANCE,, SHAREHOLDERS’,, WEALTH MAXIMIZATION,, CONGLOMERATE, FIRMS IN NIGERIA